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  TIAA Bank Bump Rate CD

TIAA Bank Bump Rate CD

in CD Accounts from TIAA Bank · Member fdic

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TIAA Bank Bump Rate CD

Unaffiliated

in CD Accounts from TIAA Bank · Member FDIC

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Highlights
Minimum Opening Deposit Starting at $1,500
Deposit Term 42 months
APY (Annual Percentage Yield) 0.70%

TIAA Bank Bump Rate CD Review

TIAA Bank Bump Rate CD is offered by TIAA Bank, a bank founded in 1918 and based in New York, NY. TIAA Bank Bump Rate CD is available in 50 states (and Washington, DC).

Key Takeaways
  • Only one CD account type available. TIAA Bump Rate CD only offers bump up CD accounts.
  • Very high APY. This account offers an annual percentage yield of up to 0.70%, which is much higher than the national average for a CD account.
  • $1,500 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit.
  • Limited selection of CD terms. TIAA Bump Rate CD only offers one CD terms. This limits your options when trying to set up a CD ladder.
Pros & Cons of TIAA Bank Bump Rate CD
Pros Cons
  • FDIC insured.
  • Available in all 50 states.
  • High-interest yield.
  • No charge on incoming domestic or international wire transfers.
  • Poor selection of CD terms.
  • There isn't a no-penalty CD option.
  • Does not offer an IRA CD.
TIAA Bank Bump Rate CD FAQ

Are cd accounts from TIAA Bank federally insured?

Yes, your TIAA Bank cd accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What types of CDs does TIAA Bank offer?

TIAA Bump Rate CD provides the following types of CDs.
  • Traditional CDs. These CDs pay a fixed interest rate i you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or rolling over the CD for another term.
  • Bump-up CDs. Bump-up CDs allow you to increase the interest rate you earn on your savings if the going interest rates rise. These CDs are useful in a changing interest rate environment.

What CD rates does TIAA Bank offer on its CDs?

The CD rates for this account have an APY of0.70% (APY stands for annual percentage yield, rates may change).

What terms does TIAA Bump Rate CD offer?

TIAA Bank offers CD terms of the following lengths:
TIAA Bank Bump Rate CD Rates & Terms
Description
APY (Annual Percentage Yield) 0.70%

What is the minimum deposit to open a CD account with TIAA Bank?

TIAA Bump Rate CD requires a minimum deposit of $1,500 to open an account.

What is the grace period for TIAA Bump Rate CD?

There is a 10-day grace period for TIAA Bump Rate CD. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the 10-day grace period. Note that the new CD rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does TIAA Bump Rate CD charge?

Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the CD term ends.

TIAA Bank does not charge an early withdrawal fee.

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Contact

Hours of Operation

  • Sunday Closed
  • Monday 8:00am - 9:00pm
  • Tuesday 8:00am - 9:00pm
  • Wednesday 8:00am - 9:00pm
  • Thursday 8:00am - 9:00pm
  • Friday 8:00am - 9:00pm
  • Saturday Closed

Other Services by TIAA Bank

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Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Minimum Opening Deposit Starting at $1,500
APY (Annual Percentage Yield) 0.70%
CD Accounts Bump Up
Grace Period for Account Changes 10 days
Deposit Term 42 months

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